Traders can look to buy LPR off any weakness to anticipate that breakout and simply use a stop that sits right below some key near-term support levels at 46 cents to 44 cents per share. One could also buy LPR off strength once it clears those breakout levels with volume and then simply use a stop that sits a conformable percentage from your entry point.
To see more breakout candidates, check out the Breakout Stocks of the Week portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.
Twitter and become a fan on Facebook. At the time of publication, author had no positions in stocks mentioned.
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